Chiru Labs stands as a trailblazer in the exciting world of non-fungible tokens (NFTs), merging the realms of digital art and blockchain innovation. Their flagship NFT collections, Azuki and Beanz, have captivated the interest of both enthusiasts and investors. In this blog, we&#39;ll explore Chiru Labs&#39; NFT collections, Azuki&#39;s floor price updates, the concept of physically backed tokens, the ERC721A Contract, their roadmap, and more. Let&#39;s dive in and unravel the magic!Meet Chiru Labs <a href="https://tradedog.io/the-art-meets-blockchain-chiru-labs-and-their-cutting-edge-nft-offerings/" rel="noopener noreferrer nofollow">Chiru Labs</a> is a pioneering force in the NFT revolution, known for their unique blend of captivating artwork and cutting-edge tech. Founded by Zagabond, a pseudonymous figure, Chiru Labs has left a significant mark on the digital art landscape.The company&#39;s prestigious NFT collections, including the renowned Azuki, have recently joined hands with the popular Line Friends media and merchandise property through a partnership with IPX, their parent company.Chiru Labs: Amazing NFT Art Chiru Labs created two special NFT collections: Azuki and Beanz. These collections are loved by collectors and investors worldwide for their unique art and interesting stories.Azuki Azuki became famous for its anime-style NFT art with skateboarder characters. It became very popular in the NFT world, even more than tokens like Bored Ape Yacht Club and CryptoPunks. It&#39;s one of the top 10 collections on Opensea, with a huge total volume of 606.3K ETH and 4.3K owners.Beanz Chiru Labs also made Beanz collection. The collection&#39;s description suggests it&#39;s connected to Azuki. Though we don&#39;t know much about Beanz yet, it&#39;s expected to offer fun experiences for NFT fans. Currently, it has a total volume of 168.2K ETH, 7.9K owners, and a floor price of 0.427 ETH.Analyzing Azuki and Beanz NFT Collection on the BlockchainAzuki According to nonfungible.com, Azuki&#39;s sales have surged from 3,000 to 11,000 (currently) - an impressive 321.68% increase. The number of active market wallets has also risen by 257%, going from 2,000 to 6,000. Primary sales have seen a significant boost, jumping from 89 to 372 in just one month (&#43;317%). The collection now boasts 4,000 unique buyers, up from 962 last month (&#43;344.28%), while unique sellers have also increased by 225%, totaling 3,000 (compared to 984 in June).Ranked #6 on Opensea, the collection hosts 10,000 NFTs (with 3% listed) and features a floor price of 7.4 ETH. As of now, Azuki holds the top spot on DefiLlama in terms of weekly volume, with a substantial 23.2K ETH.Beanz Official In the last week, there were 5,883 sales of BEANZ Official NFTs. The total sales volume for BEANZ Official reached $6.02 million, with the average cost of an NFT being $1,000. Currently, the BEANZ Official floor price stands at $0.52. The collection has a total of 7,945 BEANZ Official owners, and there are 19,950 tokens available in total. This collection started on March 31, 2022, which is over a year ago. It came before 61% of other collections. According to DeFillama, the collection has seen a -23.88% change in the floor price over the past 7 days, with a weekly volume of 2.55K ETH.Why Did Azuki&#39;s Price Go Down by 50%?The reason Azuki&#39;s price dropped by half was because of the introduction of Elementals, a new collection that looked very similar to Azuki. People got confused and disappointed because the two collections had similar faces, angles, and feelings. This confusion made many people sell their Azuki NFTs, which caused the prices to fall by 50%. Here are the main reasons for this drop in the price of the popular NFT collection:<ol><li>Big Sale of NFTs: The market for nonfungible tokens (NFTs) went down a lot, and the prices of many important collections, including Azuki, also went down. Recently, the lowest price for Azuki fell by more than 60%. This happened because many investors started to doubt whether NFTs were really worth a lot.</li><li>Accusations of Bad Behavior: Some people accused the founder of Azuki, Zagabond, of not doing a good job. They said he had done the same thing with other NFT projects before. They thought he promised a lot but didn&#39;t really do what he said. This made people worried and made the price of Azuki go down.</li><li>Azuki Elementals Launch: When Azuki Elementals was launched, something went wrong. Many people quickly bought them, and they were all sold out in just 20 minutes. This made people who already had Azuki NFTs worried. They started to sell them too, and a lot of people sold. 132 people who had Azuki NFTs for a long time sold them, which was a lot more than before. Because so many people were selling, the price of Azuki NFTs went down a lot.</li></ol>Physical Backed Token: Connecting Real Things to Digital Treasures by Chiru Labs Chiru Labs has come up with something amazing called Physical Backed Token (PBT). It&#39;s like a special token that links real things to digital tokens, making them into NFTs. They&#39;ve made this really cool idea where you can scan something real to earn something digital. Let&#39;s learn more about why this is so cool:Real Luxury Items: PBTs help stop fake luxury things. They use special chips, like the BEAN chip, to connect real fancy things like bags and shoes to digital tokens on the computer. This makes sure they&#39;re real and special. People can even use their phones to check if something is real or not.Special Collectibles: PBTs make special things that you can collect. For example, Chiru Labs made a project called Azuki that used PBTs. They made special skateboards covered in gold. These skateboards can be owned and traded just like digital pictures on the computer. It&#39;s like having a special thing in both the real world and the computer world.Great Stories: PBTs make stories more fun. If you have a PBT, you can have a special collection that has both real and digital things in it. This makes the story really exciting. Brands can use PBTs to make people play games and see cool things on the computer that are related to real things they own. Make It Yours: PBTs let you do your own thing. If you buy something with a PBT, you can use your phone to show you own it. This makes a link between the real thing and the computer thing. You can even make your own special things with it.Wrapping It Up To sum it all up, Chiru Labs has become a leader in making special digital things called NFTs. They&#39;ve amazed everyone with their Azuki and Beanz collections. Chiru Labs will keep doing amazing things as NFTs get even cooler, shaping the future of art and technology. The fun is just beginning for Chiru Labs and NFTs, as they keep making new and creative things!

Where Art Meets Technology: Discover Chiru Labs and Their Innovative NFT Creations

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